As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at one noteworthy recent insider buy.
On Tuesday, CEO Leonard M. Tannenbaum purchased $2.88M worth of Fifth Street Senior Floating Rate (NASDAQ:FSFR), purchasing 225,437 shares at a cost of $12.76 a piece. Before this latest buy, Tannenbaum purchased FSFR at 9 other times during the past twelve months, for a total cost of $4.49M at an average of $14.01 per share. Fifth Street Senior Floating Rate is trading trading flat on the day Wednesday. Investors can snag FSFR at a price even lower than Tannenbaum did, with the stock changing hands as low as $12.30 at last check today which is 3.6% under Tannenbaum's purchase price.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.